280 Parker St · Stanhope, IA 50246

$59,900

3 bd · 1.5 ba · 2,440 sqft · SingleFamily · 72 Days on market

Built 1920 Fair condition 0.25 ac lot $25/sqft · 63% below area ↓ 14% since listing

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Looking for a home with space, character, and endless potential? This roomy fixer-upper is ready for someone with vision—whether that’s a homeowner eager to customize, an investor eyeing a profitable flip, or a buyer building out their rental portfolio. Step inside to find a spacious main-floor bedroom highlighted by a beautiful bay window and double closets. The flow continues into a formal living room and dining room—both ideal for future gatherings. At the back of the home, an inviting family room features a wood-burning fireplace and sliding doors that open to a generous 12x17 deck. Imagine morning coffee or evening relaxation while overlooking the semi-private backyard—an easy space to fence, landscape, or transform into a play or pet paradise. The kitchen offers the perfect canvas for eating in, a bar area, and wing-out pantry. Main-floor laundry adds convenience, making future updates even easier. Upstairs two bedrooms sit alongside a versatile attic space that could serve as a fourth bedroom, studio, or extra storage. In addition there is a separate storm cellar for safe-keeping. And we don't want to forget the double-deep 22x44 garage. Bring your vision. With this layout, yard, garage, and location, the possibilities are wide open. Sold as-is.

Key facts

• Main-floor bedroom
• Family room
• Dining room

Tags

• MAIN-FLOOR BEDROOM
• FORMAL LIVING ROOM
• DINING ROOM
• FAMILY ROOM
• WOOD-BURNING FIREPLACE
• 12X17 DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#444 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• South Hamilton Community School District (rural): math 77% / reading 82% proficiency, ranked #30 of 289 in IA (top 10%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: South Hamilton Elem (math 82% / reading 82%, grade A+, #44 of 616 statewide, top 9%, 362 students, 30% FRL); South Hamilton Middle And High School (math 75% / reading 81%, grade A-, #53 of 336 statewide, top 16%, 328 students, 26% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 4 active listings in the ZIP; 29 units permitted in Hamilton County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Hamilton County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $56,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.08% ✓
• Cap rate: 17.72%
• Cash-on-cash: 40.80%
• DSCR: 2.82
• GRM: 4.0

CMA / ARV

• ARV (median comp): $160,000
• List price: $59,900
• Delta: -62.56%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 55.9%
• Equity multiple: 5.11×
• Total profit: $68,964
• Equity at exit: $53,963

10-year hold

• IRR: 49.4%
• Equity multiple: 11.41×
• Total profit: $174,563
• Equity at exit: $116,373

Cash invested: $16,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 50246

• Home prices YoY: 5.9%
• Active inventory: 4
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,246 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $570

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 49%

Sensitivity live

Price	-10% $612	-5% $591	+0% $570	+5% $550	+10% $529
Rent	-10% $472	-5% $521	+0% $570	+5% $620	+10% $669
Rate	-1.0pp $600	-0.5pp $586	base $570	+0.5pp $555	+1.0pp $539

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $59,900 Active 72 DOM
2. 2026-06-21
   days on market $59,900 Active 71 DOM
3. 2026-06-18
   days on market $59,900 Active 69 DOM
4. 2026-06-17
   days on market $59,900 Active 68 DOM
5. 2026-06-16
   days on market $59,900 Active 67 DOM
6. 2026-06-15
   days on market $59,900 Active 66 DOM
7. 2026-06-13
   pricedays on market $59,900 Active 64 DOM
8. 2026-06-12
   days on market $68,500 Active 63 DOM
9. 2026-06-09
   days on market $68,500 Active 60 DOM
10. 2026-06-08
    days on market $68,500 Active 59 DOM
11. 2026-06-07
    days on market $68,500 Active 58 DOM
12. 2026-06-05
    days on market $68,500 Active 56 DOM
13. 2026-06-04
    days on market $68,500 Active 54 DOM
14. 2026-06-02
    days on market $68,500 Active 53 DOM
15. 2026-06-01
    days on market $68,500 Active 52 DOM
16. 2026-05-31
    days on market $68,500 Active 51 DOM
17. 2026-05-31
    days on market $68,500 Active 50 DOM
18. 2026-05-04
    price $68,500 1296-char remark

    Show marketing remark (1296 chars)

    Looking for a home with space, character, and endless potential? This roomy fixer-upper is ready for someone with vision—whether that’s a homeowner eager to customize, an investor eyeing a profitable flip, or a buyer building out their rental portfolio. Step inside to find a spacious main-floor bedroom highlighted by a beautiful bay window and double closets. The flow continues into a formal living room and dining room—both ideal for future gatherings. At the back of the home, an inviting family room features a wood-burning fireplace and sliding doors that open to a generous 12x17 deck. Imagine morning coffee or evening relaxation while overlooking the semi-private backyard—an easy space to fence, landscape, or transform into a play or pet paradise. The kitchen offers the perfect canvas for eating in, a bar area, and wing-out pantry. Main-floor laundry adds convenience, making future updates even easier. Upstairs two bedrooms sit alongside a versatile attic space that could serve as a fourth bedroom, studio, or extra storage. In addition there is a separate storm cellar for safe-keeping. And we don't want to forget the double-deep 22x44 garage. Bring your vision. With this layout, yard, garage, and location, the possibilities are wide open. Sold as-is.

19. 2026-04-11
    listed $70,000 Active 1296-char remark

    Show marketing remark (1296 chars)

    Looking for a home with space, character, and endless potential? This roomy fixer-upper is ready for someone with vision—whether that’s a homeowner eager to customize, an investor eyeing a profitable flip, or a buyer building out their rental portfolio. Step inside to find a spacious main-floor bedroom highlighted by a beautiful bay window and double closets. The flow continues into a formal living room and dining room—both ideal for future gatherings. At the back of the home, an inviting family room features a wood-burning fireplace and sliding doors that open to a generous 12x17 deck. Imagine morning coffee or evening relaxation while overlooking the semi-private backyard—an easy space to fence, landscape, or transform into a play or pet paradise. The kitchen offers the perfect canvas for eating in, a bar area, and wing-out pantry. Main-floor laundry adds convenience, making future updates even easier. Upstairs two bedrooms sit alongside a versatile attic space that could serve as a fourth bedroom, studio, or extra storage. In addition there is a separate storm cellar for safe-keeping. And we don't want to forget the double-deep 22x44 garage. Bring your vision. With this layout, yard, garage, and location, the possibilities are wide open. Sold as-is.

20. 2026-01-12
    status Pending
21. 2026-01-09
    listed $79,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,951
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$1,743
• Taxable income: $6,263
• Est. tax owed @ 24.0%: −$1,503
• After-tax cash flow: $5,341/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This fixer-upper requires moderate renovations, including kitchen updates and landscaping improvements, to increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — outdated and in need of replacement
• Major landscaping — overgrown vegetation needs trimming

Value-add opportunities

• Both kitchen renovation — outdated cabinets and flooring
• Both landscaping — improves curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and in need of replacement	Moderate	$3,000–15,000
landscaping · overgrown vegetation needs trimming	Major	$15,000–50,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Both kitchen renovation — outdated cabinets and flooring ↑
• Both landscaping — improves curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: South Hamilton Community School District
• NCES district ID: 1926640
• Math proficiency: 77% ▼ -2.00%
• Reading proficiency: 82% ▬ 0.00%
• Median HH income: $58,301
• Composite: 68.02/100
• National rank: #356
• State rank: #30 of 289 in IA

Livability — Stanhope

• Score: 68/100
• State rank: #444
• US rank: #9712

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment C Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stanhope, IA
• Population (ZIP): 711

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 14,602 people
• By 2030: 14,210 · -2.7%
• By 2040: 13,312 · -8.8%
• By 2050: 12,469 · -14.6%
• By 2075: 11,449 · -21.6%
• By 2100: 10,806 · -26.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 24% Iranian 2% Slovak 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · Hamilton

• 2024 margin: Solid R (+33.3) · D 32.8% · R 66.1% · Other 1.1%
• 2008→2024 swing: -34.6pp toward R · 2008: 1.3pp · 2024: -33.3pp
• All cycles: 2024: R+33.3 2020: R+26.6 2016: R+22.9 2012: R+2.7 2008: D+1.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.83%
• Current HPI: 194.5067
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-14.3% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $68,500 IAR
• 2026-04-11 Listed $70,000 IAR
• 2026-01-12 Pending — IAR
• 2026-01-09 Listed $79,900 IAR